Your Home is Your Symphony

by Industry

Ideas to make your home what it needs to be

“Dr. Carl Sagan once wrote, “Somewhere, something incredible is waiting to be known.” Although Dr. Sagan was commenting on the wonders to be found in the vastness of outer space, there are also incredible design possibilities just waiting to be discovered right in your own home. Your home’s overall design represents a symphony. The individual design details are the musical notes you use to compose the melody and harmony for the symphony of your living space.

Your home should always bolster feelings of happiness, serenity, and comfort. Once you know a few simple rules, composing a home symphony that supports positive emotions and encourages joyful living is easy.

Begin composing your symphony by choosing the color of your walls. All of your home’s colors should harmonize, both inside and out. Once you’ve chosen your exterior colors, bring subtle shades of those same colors inside, using them as accents throughout your home. Harmonize your colors with ones you see in the natural world surrounding your house. Use colors that blend with the lighting from the natural environment and support a feeling of serenity and cheerfulness.

Next, add carefully-crafted lighting, an essential factor in all residential designs. Well-designed lighting is both a science and an art, and when used in conjunction with color, it sets the emotional atmosphere for the home. Too little light in a room can cause people to feel depressed, while rooms that are too bright can cause uneasy feelings.

Like the color of your walls, your lighting choices should also harmonize with the natural light surrounding your home. The amount of light should vary, just as in nature, to give rooms a more natural feel and evoke a sense of harmony and peace.

The next movement in your symphony involves the textures you employ throughout your home. Studies have shown that emotionally pleasing patterns based on nature encourage feelings of happiness and contentment. Undulating patterns and gentle swags lend an upbeat, natural texture to a room. In contrast, rooms with no designs feel boring because people are accustomed to the multitude of designs displayed by Mother Nature.

Many other design details in your home also come into play when creating your home symphonies, such as sounds, furnishings, and furniture arrangement. But regardless of which movement of your symphony you’re working on, always remember that balance is the key. And just like the combined elements of a symphony, your home must have some sections that promote quiet and rest–remember, it’s the vacant spaces between the notes that make the music.

Look at decorating your home as if you were creating a symphony in all its complexity and harmony. You’ll be able to make design decisions that are always in concert with your overall concept. If you continue to bear the complete work in mind, you’ll choose design elements that resonate harmoniously, and your home will make joyful music for all who enter.

Precautionary Measures to Be Taken Before and During House Demolition

by Industry

Demolition to get you where you need
to be

Demolition of a house is done for various reasons. It is sometimes done to evacuate a place for other construction work, or for constructing a new building in place of the existing one. Whatever the reason might be, one thing is important, and that is the safety measures. Yes, demolition of a house is a mammoth task which demands a lot of care. Thus, proper precautionary measures should be taken before demolishing a house. It is best not to do it on your own. Contacting professionals who are best in this field will ensure proper and safe demolition.

House demolition service providers in Wollongong are aplenty. And these professionals always make sure to follow the safety protocols throughout the activity. They use the latest equipment and take necessary precautions before demolishing a property. These precautions are not very difficult to take, but these can save many lives during demolition and construction. These only take a couple of minutes of supervision but are mandatory on a site.

Here are the most important precautionary measures for demolition.

Checking the Machinery

Whoever is entrusted with the work of demolition should have thorough knowledge about the different aspects of work. They should have an idea about what to wear and what to use during the demolition period. Each of the technicians should know how to operate the machines properly because that will lessen the chances of damage. Work boots, headgear, mask and gloves are a must during demolition.

Final Sweep of the Property

All the people and their valuable belongings should be out of the building before the demolition work begins. It is absolutely important to check each and every room and all the furniture, like cupboards to ensure all the essentials have been removed. Also, technicians should keep an eye so that nobody even gets close to the demolition site. If there are newcomers at the site, they should be taught about handling equipment. There should be one person supervising the final sweep, and he should report it to someone who can take care of the demolition process later on.

Having Experienced Technicians On Site

The technicians who are performing the demolition job should be experienced to handle explosive materials which are really dangerous. These technicians should have the required certifications to handle the explosive materials. They should be careful, dedicated and matured. Properly trained employees can always prevent accidents on site.

Braced Walkways and Ceilings

It is absolutely necessary to brace the walkways and ceilings in a demolition site. Anyone can enter the building during the activity, and if the building is not braced, it could just fall off on one’s head. It provides additional support in case an accident takes place. Bracing prevents injuries, accidents and even fatalities.

Cleaning Up

Cleaning up the demolition site is also important. Earth moving is done with the help of various kinds of equipment which ensures proper removal. No unauthorised person should be present at the site while this is being done.

Any kind of negligence can cause mishaps on the site. But, by taking some safe precautions during demolition, the workers can prevent mishaps. After all, nobody wants to get killed under debris.

Multi – Family Rental Property: Buying, Selling, Renting

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Multi Family Rental Property

Many of us, consider, whether purchasing a multi – family, rental property, is a good fit, in terms of being, a component of one’s investment strategy, and process. Like anything else, a wise consumer researches, and becomes familiar with the possible, pluses, and minuses, and whether it, is for them. It is important to understand, and evaluate, the best, buying – opportunities, whether it should be sold, or if renting, is the best strategy. Should one purchase a new property, or an existing one? With that in mind, this article will attempt to briefly consider, examine, and review, when, and, if, someone should buy, and whether it is the best time to sell, and/ or, if renting, might be the best strategy and approach.

1. Before you buy: There are many considerations, before you should purchase, a multi – family, rental property. Are you going to live in one of the units, or rent the entire property? If you live there, your mortgage interest rate, will be lower, because it will be considered, an owner – occupied property, but, you also, will receive less revenue from rentals. Those doing so, often, look at this, as a way, to use rental revenues, to significantly, reduce one’s own, housing costs. If you are looking at this, as an investment, then, your mortgage interest rate, will be slightly higher, your down – payment, a little more, and you might have to justify the viability of the purchase, based on rentals. A formula, I suggest, is receiving a 6% return, and a positive cash flow. This means, if the property costs $500,000, you must have a rent – roll of a net of $30,000 per year, after deducting real estate taxes, and owner/ landlord paid utilities, and basic maintenance. Therefore, if taxes were $10,000 and anticipated utilities and basic maintenance were an additional $5,000, then you must collect, at least $45,000 per year, in rents. Do this calculation, based on 10 months rents, in order to prepare for potential vacancies, etc. In addition, calculate the rents, and compare them, to your expenses, and proceed, only if this is a positive cash flow, and the 6% return, is achieved.

2. Selling: Is owning the best idea, for you? Are you prepared for the unanticipated expenses, and will you commit to putting aside, a reserve fund, for maintenance, repairs, and renovations? Is the real estate market, the right one, now, to get the best results, from a sale? Consider competition, the local market, mortgage interest rates, and how much, you feel, you need, from any transaction.

3. Renting: Ensure you do, a quality, legal, enforceable, screening process, and seek the finest tenants. There is no guarantee, but pricing correctly, to ensure, you are not the most expensive, often, creates the best opportunities. You must also, either, have the abilities, to do, lots of the repairs, etc, or have qualified service technicians, to prepare for the possibilities, and obstacles.

Like any investment, one should proceed, in the most prepared way, in order to make the best decisions, possible. It may be for you, or not, so, proceed, with your eyes, wide – open!

4 Golden Rules To Get A Good Deal On A House In A Great Locality

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Is a house too good to be true?

Finding deals on houses is challenging but not impossible. More often than not, the place and the value you seek are correct before you, but you haven’t found it. After reading these golden rules, you will be able to. Jump right in to discover what you have been missing.

 

Rule #1: A Great Deal May Be Impossible, But A Good Deal Isn’t

There are those localities in every city where property rates have not fluctuated, especially during a depreciation time. This is the best deal you can get. No matter how good or bad the market is, the rates will stay the same, which means your investment is safe. It would be best if you diligently looked out for these localities. A little research will help you with that.

Rule #2: The One Who Comes First Is Not Always The Winner

When you are looking for a house in a popular neighborhood, you need to understand that a deal, once made, will not stay on the table for too long. Usually, when two or more houses are introduced into the market, the one with better advertising and presentation takes the cake as it garners more attention. The rule is to go with the one that lost its bid, as those houses will come at a marginally lower price.

Rule #3: If You Love The House, It’s Not For You

Yes, this is true. If you loved the house you visited, then there is a definite probability that most prospective buyers did too. These houses are specifically designed to appeal to more people and may be out of your price range. In such cases, search for more affordable options while your competition wastes time is lusting after a costly house.

Rule #4: If An Offer Is Too Good To Be True, It Probably Is

Real estate uses this strategy to quote an obscenely reasonable price for a good house. This doesn’t mean that the place is available at this rate; it just means the listing agent has decided to increase the demand in the market for that particular house. If you see such ads, you should stay away from them.

Overall, buying a house is a grave decision that can affect the rest of your life. These golden rules will prevent you from falling prey to the clever strategies devised by realty professionals to deceive dealers in the home-buying process.

Can a Mobile Home Be A Good Investment

by Industry

Mobile Homes

Mobile homes, or manufactured homes, have become an increasingly popular option for purchasing a home. However, there is some debate about whether mobile homes can be a good investment. This article will examine the pros and cons of investing in a mobile home.

Firstly, mobile homes tend to be much more affordable than traditional homes. This is because they are built in a factory and then transported to their final location, which is much cheaper than building a home on-site. In addition, mobile homes are often smaller than traditional homes, which also makes them more affordable. Another advantage of mobile homes is that they can be easily moved. This is particularly useful for those needing to relocate frequently, such as military families. Additionally, if the owner decides to sell the mobile home, they can move it to a new location rather than having to sell the property itself.

Mobile homes also tend to have lower maintenance costs than traditional homes. This is because they are built with lightweight materials designed to withstand transportation stresses. In addition, mobile homes often come with warranties that cover the cost of repairs for a certain period.

However, investing in a mobile home also has some potential drawbacks. Firstly, mobile homes are typically located in mobile home parks. This means that the owner will have to pay a lot of rent in addition to their mortgage payment. It can add up to a significant amount of money over time. Furthermore, mobile homes tend to depreciate rather than appreciate. It may not be considered to be real estate but rather personal property. As a result, the value of a mobile home may decrease over time, making it a less profitable investment.

Additionally, mobile homes may not appreciate value as much as traditional homes. They are often located in areas with lower property values. As a result, the potential return on investment for a mobile home may be lower than that of a traditional home. In conclusion, investing in a mobile home can be a good option for those looking for an affordable and easily movable home. However, it is essential to consider the potential drawbacks, such as lot rent and depreciation, before deciding. Ultimately, whether or not a mobile home is a good investment will depend on the individual circumstances of the buyer. It may be beneficial to consult a financial advisor or real estate expert before deciding.

Good Landlords Ask The Right Questions!

by Industry

How to be the best landlord

Landlords and tenants alike want a cordial relationship so that each can live in peace. No landlord should ever allow a tenant to move into their rental property without first requiring the prospective tenant to complete a rental application. Among the critical questions that should be answered on the application are:

– Place of current employment?

– Length of employment?

– Name of a bank?

– Social Security number?

– Do they have pets? If so, what kind?

– Number of vehicles?

– How many occupants will live on the property?

– Ages of occupants?

– Name and address of current and prior landlords?

– Have you been convicted of a felony?

– Have you ever been evicted?

– Are you currently engaged in criminal activity?

– Have you been arrested and charged with a crime but not yet convicted?

– Are you in bankruptcy or plan to file for bankruptcy?

A bold notice on your rental application form should read: Falsification of this information is grounds for a ten-day Notice to Move if discovered later by the landlord or management.

The landlord can begin the screening process with the information on the rental application; it is the landlord’s responsibility to be sure the tenant is the right person to occupy the home or apartment… and that the house or apartment is suitable for the applicant.

A qualified tenant can afford the rent and has the characteristics necessary to coexist with the neighbors or other tenants. On the other hand, a landlord should not rent a one-bedroom unit to a four-member family.

The screening process includes checking the tenant’s credit rating. Someone with a long list of late payments and unpaid debts could immediately become a problem tenant. Solve that problem before it begins by forthrightly explaining to the prospect why they are not eligible to occupy the property. The best eviction is one that occurs before occupancy.

Along with a good credit history, you must check your prior rent history and search public criminal records for indications of behavior problems. You can ask the tenant’s previous landlord to fill out and return a written questionnaire on the tenant’s length of tenancy, payment history, violations of lease terms, etc. Yes, you can ask, but a few landlords will answer. If they do reply, they will avoid any negative report for fear the tenant might see the information and bring legal action against them. More practically, you might call the present or prior landlord and learn what you can verbally.

Many people with criminal records have reformed and are leading exemplary lives. However, even for a sympathetic landlord to rent to a felon is playing with fire. If the prisoner shoots a neighbor or another tenant… and it comes out in the police report that the landlord was aware of the criminal record, someone will probably sue the landlord.

Please make no mistake about it… fair housing laws require you to treat all prospective residents the same. Make sure you have your rental criteria in place and that it is reasonable.

Is A Rental Property A Good Investment

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Rental Property Investment

Rental property investment can be an excellent way to produce passive income and build lasting wealth. However, whether it is a good investment depends on several factors, including the location, property type, rental demand, and financing options. Listed below will explore the pros and cons of rental property investment to help you make an informed decision.

Pros of Rental Property Investment

Steady Income Stream
One of the most significant advantages of rental property investment is its steady income stream. As long as your property is occupied, you can expect monthly rent payments to cover your mortgage payments and generate profits. The rental income can also increase over time as you increase or refinance your mortgage.

Appreciation in Property Value
Over time, rental properties can appreciate, primarily if they are located in high-demand areas. As the property value increases, so does the equity you have in the property. You can use this equity to invest in other properties, pay off debt, or fund your retirement.

Tax Benefits
Rental property investors can favor several tax benefits and deductions for mortgage interest, property taxes, repairs, and maintenance expenses. You can also depreciate your rental property over several years, reducing your taxable income.

Control Over Investment
Unlike other investments, rental property investment gives you complete control over your investment. You can choose the property type, location, tenants, rental rates, and financing options. You can also improve the property to increase its value and appeal to tenants.

Cons of Rental Property Investment

High Initial Costs
Rental property investment requires a significant upfront investment, including a down payment, closing costs, and ongoing costs, including property taxes, insurance, and maintenance. You may also need to renovate or repair the property to make it suitable for tenants.

Tenant Risks
One of the most significant risks of rental property investment is the risk of bad tenants. Bad tenants can cause property damage, failure to pay rent, or violate the lease agreement, leading to costly legal fees and eviction proceedings. Screening tenants thoroughly and having a solid lease agreement can mitigate these risks.

Market Risks
Rental property investment is also subject to market risks, including economic changes, interest rates, and rental demand. If the rental market experiences a downturn, finding tenants or generating profits may be more challenging.

Management Responsibilities
Rental property investment also requires management responsibilities, including finding and screening tenants, collecting rent, handling repairs and maintenance, and complying with landlord-tenant laws. If you do not have the time, skills, or inclination to manage your rental property, you may need to hire a property management company, which can add to your expenses.

Conclusion

Overall, rental property investment can be good if you have the financial resources, skills, and knowledge to manage the investment correctly. It can provide a steady income stream, appreciation in property value, tax benefits, and control over your investment. However, it also comes with risks and responsibilities, including high initial costs, tenant risks, market risks, and management responsibilities. Therefore, before investing in rental property, it is essential to do your research, consult with experts, and develop a solid investment plan that aligns with your financial goals and risk tolerance.

Don’t Pay Another Cent In Rent To Your Landlord!

by Industry

Own your own home

We all dream of owning our own homes and not paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it be when you’re not even permitted to bang in a nail or two without a hassle? You feel like you’re stuck in the renter’s rut with no way of rising out of it and owning your own home.

 

Don’t Feel Trapped Anymore; It doesn’t matter how long you’ve been renting or how insurmountable your financial situation may seem. Some little-known facts can help you overcome the hump and transfer your status from renter to homeowner. With this information, you will see how to save for a down payment, stop lining your landlord’s pockets, and stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

Most renters’ problem isn’t their ability to meet a monthly payment. Goodness knows that you must complete this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you think. Consider the following six critical points…

You can buy a home with much less down than you think.

Some local or federal government programs (such as 1st-time buyer programs) help people enter the housing market. You could qualify as a first-time buyer even if your spouse owned a home before as long as your name was not registered. Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down payment, if you are debt-free and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home
Some sellers may be willing to hold a second mortgage for you as a seller take-back. In this case, the seller becomes your lending institution. Instead of paying this seller a lump total for their home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

By borrowing money for certain investments to a specified level, you may generate a significant tax refund to use as a down payment. While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both the home and investment will be yours in the end.

You can buy a home even if you have problems with your credit rating
If you can come up with more than the minimum down payment or secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can and should, get pre-approved for a home loan before you look for a home.

Pre-approval is easy and can give you complete peace of mind when shopping for your home. Mortgage experts can obtain written pre-approval for you at no cost and no obligation, and it can all be done quickly over the phone. More than just verbal approval from your lending institution, a written pre-approval is as good as money in the bank. It entails a completed credit application and a certificate that guarantees you a mortgage to the specified level when you find the home you want. Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage and being stuck in the renter’s rut forever.

Typically there is no cost or obligation to enquire.

You should be aware of many essential issues that affect you as a renter. Why would you continue to lose thousands by throwing it away on rent when with your agent, you could take a few minutes to discuss your specific needs so that you can stop renting and start owning?
This conversation costs you nothing. And, of course, you shouldn’t have to feel obligated to buy a home when you review this. But by exploring your options and learning how you can afford a home, think about how prepared and relaxed you’ll be when you are ready to make this critical step.


Alphabet Soup? Nope, Those Are Real Estate Agent Designations!

by Industry

What do the letters behind a real estate agent's name stand for?

Real estate agents, like doctors, lawyers, and other professionals, can earn designations, certifications, and other credentials. These are usually shown by putting a series of initials after the agent’s name. The most common tags and certifications are Broker, REALTOR, e-Pro, CHMS, GRI, ABR, and CRS.

What do the letters behind a real estate agent’s name stand for? Real estate agents, like doctors, lawyers, and other professionals, can earn designations, certifications, and other credentials. These are usually shown by putting a series of initials after the agent’s name. The most common tags and certifications are Broker, REALTOR, e-Pro, CHMS, GRI, ABR, and CRS.

What does an agent have to do to obtain the designation or certification?

E-Pro requires an agent to take a class on basic computer skills. It has no real estate content but ensures your agent can use email and the web. It should be a bare minimum bar for the technical aptitude of your agent.

REALTOR is one of the more accessible credentials to obtain (but one of the hardest to live up to). A real estate agent belongs to the National Association of REALTORS and agrees to follow the Realtor Code of Ethics. You can read about the code here http://www.realtor.org/mempolweb.nsf/pages/Code?OpenDocument

A broker is a bit harder to obtain than REALTOR. In Texas, for example, a broker license is required to be able to operate your own real estate company. An agent must have their support for two years and complete over 600 hours of real estate education before applying for a broker’s license. The broker’s license is granted upon completing an exam administered by the state. Brokers are real estate agents with advanced education.

GRI stands for Graduate Realtor Institute. Less than 50% of agents have this designation. The GRI requires 12 days of continuing education with passing grades on three exams. No production or time requirements exist, so an agent can earn this designation by sitting in class for 12 days and passing the tests. This designation is in no way a measure of real estate sales experience.

ABR stands for Accredited Buyer’s Representative. Less than 30% of agents have this designation. This designation combines two days of classroom work and an exam requiring the agent to show proof of at least five buyer sales. This designation indicates that the agent has had both formal classroom time and field experience.

CRS stands for Certified Residential Specialist. Less than 4% of all agents have this designation. This is the most challenging designation to obtain and is a measure of a high degree of formal education and real-world transactional experience. To get a CRS, the agent must attend three 2-day classes, pass three exams, and provide proof of 25 closed transactions within the last 24 months. While the transaction experience isn’t considerable, it does weed out the inexperienced agents, and the classes weed out those not dedicated to continuing education.

Other designations are out there, but for the most part, they are issued by inconsequential groups, have no real bearing on the agent’s abilities, and are used more for marketing purposes than anything else.

4 Factors Which Impact Real Estate’s Future

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Real Estate's Future

Since no one has a crystal ball, there will always be a significant degree of uncertainty when trying to predict and forecast future trends in the housing market.  Although past trends are essential to understand, we must also recognize we live in an evolving world, and everything, from how houses are marketed (especially the digital/ Internet considerations) to the extended, nearly historically low, mortgage interest rates, differ, from what has been witnessed, and experienced, in the past. With that in mind, this article will attempt to briefly consider, examine, review, and discuss four factors that might probably impact real estate’s future.

1. Supply and demand: One item, which has always been relevant, and still is, is the idea and concept of Supply and Demand. When there is more supply (available houses on the market than qualified buyers) than demand (buyers proactively seeking a home to purchase), home prices are stressed and, often, fall! On the other hand, when the converse exists, prices generally move upward. Housing prices, and pricing, are usually fluid, and either, Buyers’ Markets, or Sellers’ Markets, often come and go quickly and regularly!

2. Available funds: There are times when lending institutions follow more strict guidelines, and others when money is looser! This creates, times, when they require higher, or lower, credit requirements, to loan, and finance, a house. In addition, depending on overall conditions, there may be more or fewer qualified buyers. When money is readily available, lenders may require lower down payments, which means individuals often apply for a more significant amount of the loan principal.

3. Job security/optimism: The more, secure, potential buyers, are and feel, and whether, they believe there will be a prolonged, buoyant job/ employment market often, determines, how many people, consider themselves, potential buyers. When there are fewer buyers, this creates lower house prices, etc.

4. Local, regional, and national economic conditions: Economic conditions often dictate and determine the behavior and performance of the housing market! Although worldwide, and federal economic conditions, are significant, regional and local factors, strengths, weaknesses, trends, etc, are often even more relevant! When consumer confidence is high and potential buyers believe positive things will continue, the real estate market benefits!

Both professional real estate agents, as well as homeowners, and potential buyers, benefit when they better understand, as many relevant factors, as possible. Savvy buyers and sellers hire someone to help them understand the best courses of action and opportunities.